Ascending Triangle Formation
Breakout Level 101
84 - 85 & then 80 - 81 may act as Good Support
Levels
75 Should Not be Broken!
& If 65 is Broken (in worst case), 25 - 26
levels will be exposed; which is less likely
as Weekly Bullish Divergence can be seen.
📊 Saudi Arabia Refineries Company
📈 Trading within an ascending channel, it will achieve its observed goals in two waves
🏹 Support nad resistance levels as well as targets in the chart
🏷️The current price is 92.5 riyals and at the middle of the channel
🎯The next goal is 96 riyals
Good luck!
🤝Please do not forget to support, cheers, likes, comments and boost!
Thanks!
In this there is trendline and trendline also respected twice there is third time its retest its trend line so we will enter in trendline restest. Bullish trendline
Background
TADAWUL:2030 in bearish market since 18th of Jan 2022 (156 d) with a loss of 46.99% (69.98)
Current Situation
The recent oil price hike observed a series of trend reversal candle stick patterns consisting of Morning Star, and Tweezer Bottom Pattern in succession during the past 8 days (since 20th June 2022)
Trading Strategy
Entry Point =...
Bullish Indications
1- Dow: LL and LH
2- Inverted cup and handle pattern
3- Bearish divergence on Chaikin oscillator
Biased: Short
Trade Plan A:
Sell @ current price (130) SL @ 145
TP1 115
TP2 100
Trade Plan B:
Short @neck line (115) SL @ current price (129.6)
TP 100
